 In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in...  Federal Income, Estate and Gift Tax Laws, Correlated - Page 80by United States, Walter Elbert Barton - 1944 - 1242 pagesFull view - About this book
 | United States. Tax Court - 1959 - 1608 pages
...less than the prior estimate thereof, then such prior estimate (but not the basis for depletion) shnll be revised and the allowance under this subsection...tenant. In the case of property held In trust the allowable deduction shall be apportioned between the Income beneficiaries and the trustee In accordance... | |
 | United States. Internal Revenue Service - 1964 - 1462 pages
...ESTATES. SEC. 167. DEPRECIATION. * * * (h) LIFE TENANTS AND BENEFICIARIES OF TRUSTS AND ESTATES. — • "(1) the excess of the aggregate fair market...shares is not more than the excess of the aggregate allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance... | |
 | United States. Tax Court - 1959 - 1470 pages
...be revised and the allowance under this subsection for subsequent taxable years shall be based npon such revised estimate. In the case of leases the deductions...computed as If the life tenant were the absolute owner of tbe property and shall be allowed to the life tenant. In the case of property held In trust the allowable... | |
 | 1967 - 682 pages
...estates. Sec. 167. Depreciation. • • • (h) Life tenants and beneficiaries of trusts and estates. In the case of property held by one person for life...were the absolute owner of the property and shall be 66-047—67-26 allowed to the life tenant. In the case of property held in trust, the allowable deduction... | |
 | 1976 - 390 pages
...on account of such month, under section 167 of this paragraph ) . [(h) Life tenant and remainderman. [In the case of property held by one person for life...were the absolute owner of the property and shall be allowable to the life tenant. t(i) Termination. [No certificate under subsection '(e) shall be made... | |
 | United States. Congress. House. Committee on Ways and Means - 1977 - 940 pages
...account of such month, under section 167 or this paragraph), "(h) Life Tenant and Remainderman. — In the case of property held by one person for life...were the absolute owner of the property and shall be allowable to the life tenant. "(i) Cross Reference. — For special rule with respect to gain derived... | |
 | United States - 1939 - 780 pages
...which it is ascertained as a result of operations or of development work that the recoverable units are greater or less than the prior estimate thereof,...tenant. In the case of property held in trust the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance... | |
 | 1954 - 1390 pages
...which It Is ascertained as a result of operations or of development work that the recoverable units are greater or less than the prior estimate thereof,...tenant. In the case of property held In trust the allowable deductions shall be apportioned between the Income beneficiaries and the trustee In accordance... | |
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